Resimac slashes rates again
The non-bank lender has slashed its two year fixed rate loan by 0.32% to 4.14% for customers borrowing up to 80% LVR. The new two-year rate is Resimac's second cut in the past two months, and sees the lender approach prices on offer from the major banks last year.
Resimac head of New Zealand Luke Jackson told TMM the move was made due to the Reserve Bank's Official Cash Rate cut last month. Since then, a host of lenders have cut two year rates below 3.9%. Jackson is keen for Resimac to remain competitive for borrowers in the lower rate environment.
Jackson said Resimac was keen to attract "near-bank", near-prime customers who may have been turned away from the banks.
"We see ourselves as a front runner in that space, providing a competitive alternative for borrowers," he told TMM Online.
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